CBA Started Working On Sovereign Rating Of Armenia

CBA STARTED WORKING ON SOVEREIGN RATING OF ARMENIA

ARKA News Agency
Sept 7 2005

YEREVAN, September 6. /ARKA/. The Central Bank of Armenia (CBA)
started working on the sovereign rating of the country, Chairman of
the CBA Tigran Sargsyan told journalists. He reported that receiving
of the sovereign rating will create a new environment in Armenia not
only for local, but also for foreign investors. To reach this goal
the CBA has already applied to the IMF for technical assistance. “We
should conduct joint work to make it possible for Armenia to receive
a sovereign rating, which will create more favorable conditions for
the Armenian commercial banks, which also will be able to receive
their ratings” , Sargsyan said. He also reported that currently the
Armenian banks have some problems in cooperation with foreign partners
due to the lack of such international rating. A.A. -0–

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